Binary trades as pure Gamma trades

The power of long gamma expressed with binary options :) Remember that a tight vertical spread is basically a binary option, and also remember that a binary option is basically a pure gamma bet (not delta). So in this case our SPX uber-lotto: https://www.elliottwavetrader.net/members/atchat/?threadId=4544946 which I paid 0.8 for it initially and then added at 0.7, I also took some off at 2.6 ;) last week, is a perfect example of this. It is delivering more than 5X gains (400%) in a little more than a week because it is long an absurd amount of gamma so a very small move in SPX is causing it to swing prices dramatically. Now at this point I won't blame you if you start taking massive profits in particular if you are this in big size (like me, by accident). 

Leo Valencia hosts the Gamma Optimizer options service at ElliottWaveTrader.net.